In the world of forex automated trading, many expert advisor creators offer many sorts of testing information to backup the supposed profitability of their trading expert advisors. They show you backtesting, forward testing and (in the best cases) live testing to show you that their expert advisor have been tested and properly conditioned to respond well to the forex market.
We are customers and we are in general honest people who want to get some money by investing hard earned trading capital so we are psychologically prepared to believe in the evidence that they show us because we like to judge people by how we are. So if we are honest, we believe ea creators are honest too. This proves to be the case most of the time but if you are going to put money in the market using an automated trading system, trust, is just not good enough.
The most adequate solution I have found to this solution inside the world of forex automated trading is the use of investor access. That is, ea creators, if they have forward or live testing, are provided with an "investor" or "read-only" password once they create their trading accounts. If the accounts are real and the trading statements are not forged, the ea creator should be able to give you an investor password so that you can access the account and check the truthfulness of the trading history by yourself.
These trading histories cannot be forged, they are what they are. So next time you are thinking about buying and expert advisor demand an investor password that gives you access to their live or demo results, that way, you will now what your actually getting. No investor password ? Ok, then you move on. The only reason why an ea creator would not like to provide investor access should be the fear of being caught. If you would like to learn more about how to evaluate the profitability of expert advisors please consider buying my ebook on automated trading or subscribing to my weekly newsletter to receive updates and check the live and demo accounts I am running with several expert advisors. I hope you enjoyed the article !
We are customers and we are in general honest people who want to get some money by investing hard earned trading capital so we are psychologically prepared to believe in the evidence that they show us because we like to judge people by how we are. So if we are honest, we believe ea creators are honest too. This proves to be the case most of the time but if you are going to put money in the market using an automated trading system, trust, is just not good enough.
The most adequate solution I have found to this solution inside the world of forex automated trading is the use of investor access. That is, ea creators, if they have forward or live testing, are provided with an "investor" or "read-only" password once they create their trading accounts. If the accounts are real and the trading statements are not forged, the ea creator should be able to give you an investor password so that you can access the account and check the truthfulness of the trading history by yourself.
These trading histories cannot be forged, they are what they are. So next time you are thinking about buying and expert advisor demand an investor password that gives you access to their live or demo results, that way, you will now what your actually getting. No investor password ? Ok, then you move on. The only reason why an ea creator would not like to provide investor access should be the fear of being caught. If you would like to learn more about how to evaluate the profitability of expert advisors please consider buying my ebook on automated trading or subscribing to my weekly newsletter to receive updates and check the live and demo accounts I am running with several expert advisors. I hope you enjoyed the article !
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